Topic: What happens with my crypto when I die? - page 3. (Read 2979 times)
You have to teach BTC world to someone because of heritage of your btc
I prefer to let know my wallet address to my loveones, whenever i die, my crypto in wallet is still used and get by my loveones, and by that they can used it and hipefully they can get it or withdraw it with knowledge upon getting crypto.
The risk of loosing crypto when you die can be reduce by letting someone in your family knows your private key. Can be your wife or husband, anyone in your family that you realyy trust.
When you die, your cryptocurrency will stuck in your wallet unless your family has an access on it. Thus, your family can have it or continue to hold it for you.
I think much better if you said already to your family about your crypto work earlier so that if ever you will die they know what to do with your crypto wealth. Put all your important details about your crypto account on a piece of paper and secured it but your family can find it if ever. If your family didn't know how to use bitcoin i think still worthless if they know that you have a crypto wealth. So teach them about cryptocurrency earlier.
I figure you can utilizing on the web wallet for it, since individuals who you give your private/mystery information like email address, secret key and private key of you wallet can get to it.
By along these lines don't stress in the event that you lost your equipment wallet and perhaps got mishap (I trust no and I trust you generally wellbeing with your family). You can give your private/mystery information like I say before to the general population which you super trust and depend on. You can reveal to him the motivation behind why you do that, similar to need to pass on to your kids when you get mischance, or some another issue .
Be that as it may, you ought to be keen to pick individuals, much obliged
By along these lines don't stress in the event that you lost your equipment wallet and perhaps got mishap (I trust no and I trust you generally wellbeing with your family). You can give your private/mystery information like I say before to the general population which you super trust and depend on. You can reveal to him the motivation behind why you do that, similar to need to pass on to your kids when you get mischance, or some another issue .
Be that as it may, you ought to be keen to pick individuals, much obliged
I think if you die, your cryptocurrency will not die with you. Because if you make a letter about your investment document in cryptocurrency then keep it in a secret place where your family will be able to find it after your death. Big or small amount can help your family in your absence..
Silly question right? 
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at lawyers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of such a product. But again I realy do think it should be built decentralized and trustless.
UPDATE 2: What do you think of a smart wallet that can release the money to a specified address (inheritant) if the primary owner does not log in for 1 year?
maybe investors are already thinking and anticipating all the possibilities that there are backing up and giving everything information with those they believe in me Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at lawyers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of such a product. But again I realy do think it should be built decentralized and trustless.
UPDATE 2: What do you think of a smart wallet that can release the money to a specified address (inheritant) if the primary owner does not log in for 1 year?
Except if you give different people groups, for example, family or relatives your private keys or passwords or some other your wallet informations, your wallet will sit remain. Nobody can move your adjust, even the bitcoin dev. Consequently, you should reinforcement your wallet data in some place and let your relatives think about it. It's an extremely fascinating theme.
Silly question right?
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at lawyers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of such a product. But again I realy do think it should be built decentralized and trustless.
UPDATE 2: What do you think of a smart wallet that can release the money to a specified address (inheritant) if the primary owner does not log in for 1 year?
There are some options and solutions to save ur cryptocurrency for ur family after u die. Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at lawyers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of such a product. But again I realy do think it should be built decentralized and trustless.
UPDATE 2: What do you think of a smart wallet that can release the money to a specified address (inheritant) if the primary owner does not log in for 1 year?
The risk of loosing crypto when you die can be reduce by letting someone in your family knows your private key. Can be your wife or husband, anyone in your family that you realyy trust.
I think you can use the online wallet for it, because the person you provide your personal / confidential data like your email address, password and personal wallet key can access it. really for people you trust.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of such a product. But again I realy do think it should be built decentralized and trustless.
UPDATE 2: What do you think of a smart wallet that can release the money to a specified address (inheritant) if the primary owner does not log in for 1 year?
This is a very personnel question that what happen to your crypto when you die, the same will happen as to other property or your assets, it will be better if you encash your coins and enjoy the present life in stead of wasting it in the laptop.
Silly question right?
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.
I think you crypto will gone if you die. I think it will not die only if you told someone about your password and they think that continuing it can help them to become their life better.
You will make a plan and plan to avoid losing your important documents here at Crypto Currency World. So now you have to plan for sure. And we should be ready when this time comes. It is better for your assets to find a trustworthy person for in case we are lost in the world who already knows it.
I am sure a lot of cryptocurrencies or Bitcoin in particular have been lost forever as a result of death of the owners. Take for instance the recent death of MMM founder, Sergey Mavrodi. I am quite sure someone like him will have Bitcoin worth millions of dollars that may have been lost forever, unless if he gave the private keys or password to his wife or children before his sudden death.
Simply if you are married tell your spouse about your every investment in crypto and if not tell your siblings. 
I also ask the same questions in my mind for quite sometime. Thats way I made some moves to secure my bitcoin and the future of my family. What I did is I let my wife evolve wiyh all my activities in crypto community market. I save my personal information and bitcoin detail in her phone. So she can access if ever something happened to me. 
Silly question right?
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.
Not having a concrete plan of what you are to do in your crypto when you die is a little weird. As for me, i will leave my wallet information to my siblings who knows about bitcoin and allow them to handle my asset so that my crypto won't be a waste. Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.
which will happen with the cryptocurrency you have when you die is the bitcoin or coin you have will be a treasure and no one will be able to enter.
Simply if you are married tell your spouse about your every investment in crypto and if not tell your siblings.
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